A very strong turnout at the National Liberal Club participated warmly in this year’s AGM. The Chairman recapped the year’s work, pointing to the importance of the Memorandum of Understanding (MOU) signed a year ago between The Club and Lancing in creating a positive working relationship.
Starting with a fairly new Committee, The Club had agreed the priorities would be
- To put our energy behind the Professional Networks, appointing Robert Walker to lead the effort. We can think of no better service to OLs than deploying the knowledge of successful OLs to support the personal development of younger members.
- Results so Far: (For example the Law Business Network event on 6 June)
- To support implementation of ‘Lancing Connected’: a system like Linked in which enables OLs to share information about themselves, with each other.
- Results so far: 725+ OLs have now signed up.
- To ensure the Events supported by OLs represent value for money, and reach their intended targets. So far, we have cancelled the Annual Dinner which was not meeting these goals. And we have identified the need to strengthen our focus on OLs aged between 30-50.
- Results so far: record attendance at Young OLs (100+), Christmas Carols (200+), and Summer Party (140+).
Communications: the Chairman gave thanks to Anthony Phillips who is standing down after years of service. The OL Club work in the Quad, the website and the e-newsletters have been of consistently high quality thanks to his diligence. Emily Cloney was elected to replace Anthony.
Sports: the Chairman thanked Nick Evans for his tireless efforts in maintaining strong links between The OL Club and our affiliated Sports clubs. Sharing of practices between them is underway (e.g. Recruitment, and an app that simplifies the task of collecting subs!) He noted the move towards an all-sports, gender neutral Sports dinner which Felix Aylett is organising at the Royal Overseas League (see on the website for details) for the 5 of July and encourages all OLs to sign up.
Elections: Rob Walker and Neesha Gopal, who had been previously co-opted, were elected as Committee members. Alec Rickard and Emily Cullen have been elected as new members. Both President and Chair expressed their pleasure at seeing the quality and energy of members joining The Club.
Finances: the Chairman apologised for providing only provisional Accounts: a complicated handover between Treasurers has caused significant difficulties, which we hope to resolve shortly with the return to office of David Rice, formerly Treasurer of The OL Club. When they are finalised, accounts will be posted on the website. If any OL wishes to be sent a copy by email, please contact the Foundation office.
In place of Finalised accounts the Chairman reviewed a graph shown below, which indicates ‘typical’ Annual Incomes on the right (~£68k per annum), and ‘typical’ Annual Costs at similar levels on the left. These costs exclude the major donations (to Bursaries, Chapel and the Pavilion Project) which are addressed in a separate article on the Chairman’s message. He explained that following the MOU, revenues from subscriptions will rise, and costs will also rise, due to contributions from The OL Club to a number of activities.
From the bottom, costs include
- ~£15k for its share of the Quad communications
- ~£15k for contributions to the salaries of Foundation staff who manage communications and event activities on behalf of The Club
- ~£11k for proprietary Club events (YOLs, Summer Party, Christmas Carols)
- ~£8k contributions to OL events managed by Lancing (Over 60’s, Oldest OL, HK and NYC reunions, and House and Year group reunions)
- ~£10k contributions to Sports clubs
- ~£3k Club running costs
- ~£3k small donations
Anticipating member interest in the effect on Club finances of the major Contributions, the Chairman explained that the current portfolio is valued at £667k, and generates £10k in dividends. This will reduce to £420k and dividends will reduce by approximately £10k annually, necessitating sensible economies to stay within budget. He reminded AGM that The Club had made the decisions to contribute generously to appropriate activities following input from OLs.
Pavilion Project: Chairman presented the Pavilion Project (see separate article), and the request to contribute £45k was endorsed by AGM after significant audience participation.
After the AGM we were delighted to welcome over 140 OLs and their guests to the Summer Party and we were able to enjoy an evening of sunshine on the terrace overlooking the river Thames. OLs spanned over 60 decades at Lancing and enjoyed the opportunity to catch up with friends old and new.